Technical indicators signal a Bullish Flag forming. Verify the setup on the chart.
Bullish continuation if preceding move was up.
Indecision. Widening then narrowing range.
Reversal pattern. Price likely to break downwards.
Traders are watching Honeywell (HON) as price action tightens. The stock is trading at $229.01, up 0.17% on the day. The primary technical feature is a Diamond formation. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $239.94, targeting $274.36 with support near $222.73 (R:R 2.0).
What is your outlook on HON?